Stanford's $5.1 billion bank? Try $173.6 million

Former Stanford Financial Group CFO James M. Davis told jurors Monday that the company had $173.6 million in cash reserves on hand as R. Allen Stanford was telling his top brokers the Antiguan bank had more than $5.1 billion, Bloomberg reports.

Davis, which operated out of Stanford's Memphis office, said the company had 35 to 45 days of cash on hand in the second half of 2008. By December, the bank had $88.2 million in cash.

The SEC seized the company's operations in February 2009 and Davis currently is testifying against Stanford in a plea deal. Stanford's criminal trial is underway in Houston.

Among Davis' testimony cited by Bloomberg is a revelation that he dumped two computers and a flash drive into a lake outside his home in Baldwin, Miss. He also claims to have had an affair with Laura Pendergest Holt, Stanford's former chief investment officer who has been charged and will be tried in September.

“I committed adultery, I was a hypocrite and I lied,” Davis said, according to the report. “I stole and I lied, and I lied and I stole, for more than 10 years.”